Hon Francis Kuria Kimani

All parliamentary appearances

Entries 191 to 200 of 300.

• 26 Jun 2019 in National Assembly: Therefore, with that, the banks could be lying to us in terms of the profits they claim to have made. Their only refuge for the reasons they were under-performing is they were able to convince Central Bank to relax the IFRS No.9, so that the loss could not be charged in their profit and loss account but the balance sheet and, therefore, increasing their profit in the profit and loss account. They attributed this to the interest rates capping which was done by Hon. Jude Njomo. view
• 26 Jun 2019 in National Assembly: I find this rather unfortunate because the access to credit in this country has gone down as far as financial banks are concerned. On the contrary, we have seen mushrooming mobile applications for money borrowing. Some of their interest rates are as high as 180 per cent. So, how come there is a market and demand for loans at 180 per cent per annum to be repaid within one week, two weeks or a month and there is no same demand from our banks? It is because commercial banks have taken a simple route of only lending to what they ... view
• 26 Jun 2019 in National Assembly: I am waiting for the Finance Bill to come and see how the Government is lending in terms of external lending as opposed to internal borrowing. The banks have realised that they do not need to work hard. They can just buy Treasury Bills and Treasury Bonds from the Government at high rates. You realise the risk in the Treasury Bills and bonds is zero; that is, they are risk-free. Therefore, instead of going to that SME young person or that person who has an idea for business financing and wants to borrow from them, because the risk is higher, ... view
• 26 Jun 2019 in National Assembly: On a point of order, Hon. Speaker. view
• 26 Jun 2019 in National Assembly: Thank you, Hon. Speaker. I rise under Standing Order No.95 that since we seem to have consensus, the Mover of this Bill be called upon to reply. view
• 25 Jun 2019 in National Assembly: Thank you very much, Hon. Temporary Deputy Speaker. I rise to contribute to this Nuclear Regulatory Bill. From the outset, it is important that we recognise that this will add to our energy mix in Kenya because so far we only rely on geothermal, solar and coal energy. Therefore, for the first time, our country is about to add a fourth energy source and that is nuclear energy. Nuclear energy is not just a clean form of energy, but it will go a long way to power the development of this country especially as far as the Big Four Agenda ... view
• 25 Jun 2019 in National Assembly: Hon. Temporary Deputy Speaker, I am also concerned on whether the addition of this extra source of energy will lead to a reduction of the cost of power for the people of Kenya. If you listen to the people in the industries, they say that Kenya has the most expensive sources of energy. Industries, especially in the manufacturing sector, pay electricity bills worth millions of shillings. Why is that so? As we speak, we have a geothermal company that generates power. We have another company called KenGen which generates power. We have a third company called Kenya Electricity Transmission Company ... view
• 25 Jun 2019 in National Assembly: to deal with energy. It is high time we came up with a regulator that collapses all the companies that deal with energy and have one body that takes care of energy in this country. Even when we have them, we have proven that they do not reduce the cost of power for consumers. That should be the interest of this National Assembly and the leaders. How do I make sure that farmers or persons who operate small businesses or factories in Elburgon, Molo or Turi have access to power? Most importantly is that when that power is accessible to ... view
• 25 Jun 2019 in National Assembly: A few years ago, we were very excited when we realised that we have oil in Turkana. Has that brought down the cost of fuel in our country? Has that generated revenue for our people? Even though we are excited about this new clean nuclear energy, we need to go back to the drawing board and make sure that it increases accessibility to power and most importantly, it reduces the cost of power. These extra bodies that we are creating should not end up like KETRACO and REA that increase the burden and therefore, the cost of power to our ... view
• 25 Jun 2019 in National Assembly: With those remarks, I end my contribution on this Bill. view